[Dinerotrader]

Originally Posted by thalestrader »

One thing about oil and gas, as far as price is concrned, they are very well -behaved instruments.

Best Wishes,

Thales

That is why they are the primary instruments I SIM trade right now as you can see on my p/l posts on the p/l thread. I am surprised you don't trade them more.

[Dinerotrader]

I know Thales isn't a fan of the cheapies but I liked this one enough buy the breakout. I bought in at 2.20. Maybe this is a good look at the range expansion/contraction. You can see the range contracting in cycles and I bought the breakout of the last range/wedge.
We'll see if it can maintain momentum. Stop is at 1.96.

[Dinerotrader]

NCS

Wow, 2 cheapy breakouts in 20 minutes or so. I marked the L, H, HL sequence which occured right at the trendline break, with volume, and above longer term support. Talk about a confluence of setup indicators. Stop is at $0.95

[TradeRunner]

Today's trading: 3 trades (-15)

[Rashid_G]

Hello Thales and everyone...

Very nice thread!... After swing trading stocks and doing well in 2008 decided to "simplify" by trading futures.. Picked ES of course.. Suffered badly.. Moved to NQ.. flat-lining for now but the whipsaws, particularly in ES have so eroded my confidence I wonder if I can ever rebuild my account.. I have always thought to find movement reliability before everything else, risk included. I see some here trading sub-$500 accounts??? Is currency movement dependable enough not to be assuming ridiculous levels of risk??? I have looked at E7, 6B, 6E, and 6A and they do "seem" to backwash (borrowed from a trader at ET.. ;-)) ) less than ES, particularly 6A... traded 6A this week (1k acct) and did just fine, beginners luck maybe but was terrified!

Surely I will have to pay my dues in screen time but any comments on the comparable risks in ES/NQ to currencies and others greatly appreciated..

[thalestrader]

Originally Posted by TradeRunner »

Today's trading: 3 trades (-15)

I love your hindsight trades. Your actual trades? Not so much. Though this is sim, it should be treated as though it were real. I would suggest not trading in a chop zone, and not trading at all in the hours leading up to the NFP announcement. I hesitantly took the first of three hindsight trades. I was not initiating new position during the other two, but I closed my the last 15k of my 30k short at what would have been the long entry of your second hindsight trade.

Best Wishes,

Thales

[thalestrader]

Originally Posted by TradeRunner »

UK weather chaos has given me a chance to catch up.

Here are my results from the 7th: 6 trades (+30)

That wasn't a bad day ... and take out what you call "the stupid trade of the day," and you'd have finished +45. And to tell you the truth, I'm not sure I'd call it a stupid trade, and I'll tell you why: I went short of the 6E on the break of that 123 top at 1.4410. I had a stop loss above the 3 point, and a profit target of 1.4290 for 120 ticks. If I had kept my trading platform open rather than closing it soon after that trade triggered, I would likely have been stopped at break even on your "stupid trade of the day," and I might even have reversed to long. Its hard to tell - this is a "wouldacouldashouldan ot" that fortunately, I did not do. As a result, after a mere 30 some odd hours, my profit target was filled and I had my best 6E trade in over a month.

I do my best trading when I sleep - and I'm not kidding. I think I'd own an island right now if I would just have set my order, my stop loss, my take profit, and walked away until I was alerted that either the stop or the take profit had been filled.








Best Wishes,

Thales

[MidKnight]

Originally Posted by thalestrader »

I do my best trading when I sleep - and I'm not kidding. I think I'd own an island right now if I would just have set my order, my stop loss, my take profit, and walked away until I was alerted that either the stop or the take profit had been filled.

I couldn't agree more, Thales. Over the holidays I conducted a pretty solid review of my FX trade ideas (trade idea to me, means having the general context right) since coming back to FX land a couple months prior. To my astonishment it is my micro managing that is massively affecting the bottom line. My overbearing desire to book profits early because it looks like it might start moving against me soon and/or moving to BE before a test of my entry has happened.

I need to simplify more rather than make things more complex with excessive micro managing.

With kind regards,
MK